Development
World bodies such as the United Nations, the International Monetary Fund and the World Bank often come up with plans every now and then to tackle world development. The commonly discussed problems are global unemployment, water crisis, economic crisis, regional armed conflicts and the destruction of the environment. Even regional bodies, such as the Asian Development Bank, have their own economic development agenda that are focused on the Asian region. It is a sad commentary that despite billions of dollars spent on various development projects, poverty and hunger still continue to haunt the region’s poor areas due to corruption and mismanagement of development aid. Critics often point out that usual approaches utilised to tackle poverty are wrong because aid has failed to uplift people’s lives.
IMF warns global economy “fragile”